Donald Trump, the Republican candidate for president, is promoting World Liberty Financial, the company’s new cryptocurrency platform, which was recently renamed from “The DeFiant Ones.”
The former president uploaded a video of himself with voiceover to his 90 million X followers: “This afternoon, I’m laying out my plan to ensure that the United States will be the crypto capital of the planet. They want to choke you. They want to choke you out of business. We’re not going to let that happen.”
Regarding the announcement, it was unclear to what extent Trump intended to use the pronoun “they,” and a spokesperson for the campaign did not promptly reply to inquiries.
Trump referenced “World Liberty Fi,” or WLFI, a verified X account, in his post. With only a few posts since August 22, the account boasts over 20,000 followers. Eric Trump and Donald Trump Jr., Trump’s sons, are also involved in the project.
“Happy to announce the official launch of @WorldLibertyFi! “We are entering a new era in finance,” Eric wrote on X on Wednesday. As of Thursday morning, there were more than 52,000 subscribers to the World Liberty Financial Telegram channel, which goes along with the cryptocurrency project. The news was released the day after Trump introduced a brand-new set of NFT trading cards.
Similar to the cryptocurrency platform, the NFTs are a privately held company in the digital currency market that is unofficially associated with Trump’s presidential campaign.
However, the NFTs and the cryptocurrency platform are marketed to Trump’s supporters as part of his political brand, which is how the campaign and the private companies work together.
Trump sees these private cryptocurrency businesses as a way to attract cryptocurrency supporters and voters while also making money.
The Republican front-runner has been taking a more pro-crypto stance and has been putting out more optimistic talking points about the sector. The crypto voting bloc has since made donations and endorsements. According to the Trump team’s most recent count, the entire amount raised for cryptocurrency is $25 million.
A few World Liberty specifics
What precisely the World Liberty Financial platform would do and whether the project was operational were unknown as of Thursday. Different accounts of what the digital bank intends to offer users have been provided by Donald Trump Jr. and Eric Trump, two of his sons. Recently, Trump’s eldest son revealed that the family was creating a cryptocurrency platform to compete with the established banking industry.
Donald Trump Jr. stated in the Locals interview that he believes there has been a lot of inequality in that only some people can get financing. To guys like him who have been debanked, this notion of decentralized finance is obviously very appealing, he said.
Meanwhile, Eric disclosed to the New York Post that the project involved digital real estate, which could be interpreted as tokenizing physical assets or as the sale of digital assets within the metaverse.
To his 7.5 million followers on Truth Social, the former president last week characterized the project as a means of uniting to “take a stand— together.” Trump wrote, Too long, the financial elites and big banks have squeezed the average American.
